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Bonds Paring Gains, Entrenched Inflation Risk

US TSY FUTURES
Bonds now trading weaker, extending lows as Fed Chairman Powell discusses the risk of entrenched inflation and not hiking enough to get it under control. "From a risk management standpoint we want to make sure that we don't make the mistake of either failing to tighten enough or loosening policy too soon."
  • Follow-up comment "It's very premature in my view to be thinking about or talking about pausing our rate hike. We have a ways to go" spurring better selling across the curve. 30YY climbs to 4.1363% high

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